Delhi-based D2C design and lifestyle brand DailyObjects has successfully raised $10 million (approximately INR 83 crore) in its Series B funding round, led by 360 ONE Asset with participation from existing investor Roots Ventures. This significant capital infusion will support the startup’s ambitious plans for growth, including enhancing its distribution channels, driving product innovation, expanding its team, and scaling up manufacturing capacity.
Pankaj Garg, co-founder and CEO of DailyObjects, emphasized the company’s commitment to offline expansion post-fundraise, with a focus on curated, innovative, and experiential retail concepts. In 2023, DailyObjects launched its first offline retail experience store, dubbed the “DailyObjects Playground,” in Gurugram, marking the beginning of its journey into physical retail.
Saurav Adlakha, co-founder and COO, noted that the startup is poised for a larger footprint, increasing manufacturing capacity and inventory in line with business growth. Garg added that DailyObjects has been profitable for the past two years, with revenue doubling during that time, primarily driven by its online operations. The online vertical will continue to be a key component of the company’s strategy moving forward.
In addition to enhancing its retail presence, DailyObjects plans to invest in research and development for its tech accessories and bag designs. “Design has always been at the core of what we do at DailyObjects, and as we grow, we’re excited to introduce new product innovations to the market,” Garg stated.
Founded in 2012, DailyObjects began as an online store specializing in smartphone and tablet accessories. Over the years, it has diversified into various lifestyle product lines, including bags and wallets. Remarkably, the startup has not relied heavily on external funding, having raised only $1.3 million (INR 9 crore) in a funding round from Unilazer Ventures back in 2016.
This funding round arrives at a pivotal moment, with the Indian D2C market projected to reach $100 billion by 2025, reflecting exponential growth in recent years.
